State Of Virginia Prenuptial Agreement Sample (Page 9 of 9) in pdf

Prenuptial Agreement (Rev. 1339FFD)

It is very important that both parties are completely

GENERAL INSTRUCTIONS

open and honest with each other and fully disclose all

assets and liabilities on a Prenuptial Agreement.

If you are planning on getting married, you and your

partner may want to consider a Prenuptial Agreement.

While provisions regarding alimony or spousal support

If the marriage were to end, such an agreement that

payments may be included in Prenuptial Agreements

has been created by the two of you would dictate how

depending on the laws of the state, provisions

your assets are divided rather than let it be decided on

regarding child support, child custody or child visitation

by the courts and existing law. This agreement allows

rights are prohibited from Prenuptial Agreements.

you and your partner to determine your financial future

and protect your assets and estates.

WHO SHOULD HAVE A PRENUPTIAL

AGREEMENT?

WHAT IS A PRENUPTIAL AGREEMENT?

A Prenuptial Agreement is suitable for any couple

A Prenuptial Agreement is a type of legal contract made

about to enter into a legal marriage regardless of the

between two people before they are officially married

couple's financial background, but it is particularly

under the laws of their state. This contract is designed to

suitable for those who want to have a clearly defined

set out the financial rights and responsibilities of each

division between their personal assets and joint assets

partner in the event the marriage is terminated due to

that may be later acquired together during the

divorce, annulment, separation or death. The agreement

marriage. They may be especially desirable if:

typically includes a description of the partners' separate

- If one partner has greater wealth than the other

and joint assets and the division of such assets. For this

partner.

document to be valid, both parties must have had

- If one partner has a high amount of personal debt.

sufficient time to consider the agreement and want to

- If either partner has children from previous

enter into the agreement freely and voluntarily.

relationships.

- If either or both partners previously earned or

WHY YOU SHOULD CONSIDER HAVING ONE

acquired or will earn or acquire a significant amount of

assets and want those assets to remain separate.

Prenuptial Agreements can give both parties a sense

- If either or both partners expect an inheritance or a

of security when entering into a marriage. It can

high increase in income.

protect the personal assets of both parties as well as

- If either or both partners prefer to avoid potential

separate the personal assets from the shared assets

future conflict or confusion regarding division of their

acquired jointly by the couple. In addition to protecting

assets in the event the marriage ends.

assets, it can also shield one partner from the debts of

the other partner.

ARE THEY ALWAYS BINDING?

The existence of one of these agreements fosters

In many cases, a Prenuptial Agreement will be honored

open discussion about how assets, separate and joint,

by the courts and be binding on the partners as long as

are to be handled in the event the marriage ends. An

applicable laws and certain requirements are followed.

agreement like this can relieve stress and anxiety

However, there are circumstances in which these

about what may occur in the future. If either partner

agreements or certain provisions within it are determined

already has children prior to this marriage, a Prenuptial

to be invalid and unenforceable. For example, if it can be

Agreement can be used to provide for such children.

proven that the agreement was signed involuntarily or

under duress by one of the partners or signed right before

WHAT YOU CAN INCLUDE

the wedding, then the agreement is likely to be found null

and void. Certain terms in the agreement may be

Prenuptial Agreements typically address the treatment

discounted if it violates existing law or if either party failed

of the partners' separate premarital assets, assets

to declare all of their assets during the creation of the

acquired separately or jointly during marriage, and the

agreement. Due to the significant nature of these

division of those assets. This may include properties,

agreements, it may be beneficial to create these

businesses, investments, income and inheritances as

agreements with the help of legal professionals, a

well as vehicles, furniture, jewelry or other items.

different attorney to represent you and your partner.

9 / 9

Prenuptial Agreement (Rev. 1339FFD)

State Of Virginia Prenuptial Agreement Sample Page 9

Related Articles

Related forms

Related Categories